07.11.2014 02:28:30

Cvent Turns To Q3 Profit, Lifts 2014 Outlook - Quick Facts

(RTTNews) - Cvent, Inc. (CVT) reported third-quarter net income of $1.07 million or $0.02 per share, compared to a net loss of $0.83 million or $0.03 per share for the year-ago quarter.

Excluding items, adjusted net income for the quarter was $3.44 million or $0.08 per share, compared to $2.01 million or $0.02 per share in the prior-year quarter.

Total revenue for the quarter rose 28 percent to $37.39 million from $29.15 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report results of breakeven per share on revenues of $36.44 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the fourth quarter, the company expects a loss of $0.05 to $0.04 per share, adjusted earnings of $0.01 to $0.02 per share and total revenue of $38.6 million to $39.0 million. Analysts currently expect the company to report a loss of $0.06 per share on revenue of $38.48 million for the quarter.

For fiscal 2014, the company now expects earnings of $0.04 to $0.05 per share, adjusted earnings in the range of $0.21 to $0.22 per share and total revenue of $141.5 million to $141.9 million. Street is currently looking for full-year 2014 earnings of $0.05 per share on revenue of $140.48 million.

Earlier, the company expected net loss of $0.11 to $0.08 per share, adjusted earnings in the range of $0.04 to $0.06 per share and total revenue of $140.0 million to $141.0 million.

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